California Statutes
§ 53658. — 53658. (Amended by Stats. 1970, Ch. 84.)
California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 4. CHAPTER 4. Financial Affairs·Art. 2. ARTICLE 2. Deposit of Funds
An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion that the amount of its deposits bears to the total amount of deposits secured by the pooled securities.
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California § 53658. (53658. (Amended by Stats. 1970, Ch. 84.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1970, Ch. 84.